This paper provides a sufficient monotonicity condition for the solution of a rationalizability procedure to be independent from the order of elimination. The analysis unfolds in an abstract environment that applies to any form of finite game and elimination procedure. The result applies to...

In medicine, the "ochlocratic trap"—a tendency to conform to majority views irrespective of their ethical implications—can significantly impede moral progress. This paper explores parallels between medical ethics and science, advocating a scientific approach toward ethical decision-making....

This research discusses the practical feasibility of chatbot experiments using ChatGPT as a subject in an auction experiment. In addition, I will test the new idea of giving ChatGPT a "persona" and having it participate in the experiment as a human being with that character. Without persona,...

Manufacturing activities are associated with environmental issues, including industrial waste and dust. Recent comprehensive policies in China have effectively reduced the emissions of some atmospheric pollutants, such as SO2, NOx, CO, PM10, and VOC.However, this does not apply to industrial...

This research examines the feasibility of using ChatGPT as a subject in an auction experiment. The author will also test the idea of giving ChatGPT a “persona” to participate as a human. Without personas, the author finds overbidding in the FPA and slight underbidding in the SPA; the FPA...

Eva Mariani’s “Economics Rationality in the World of Amartya Sen”, published in Qeios on March 24, 2023, is a good take of the works of Amartya Sen on rationality, choice, and development economics. By employing a descriptive qualitative approach, Mariani asserts Amartya Sen's view on...

The weak axiom of revealed preference (WARP) ensures that the revealed preference (i) is a preference relation (i.e., it is complete and transitive) and (ii) rationalizes the choices. However, when WARP fails, either one of these two properties is violated, but it is unclear which one it is. We...

The theoretical literature on risk aversion and Expected Utility Theory is extensive; however, the analysis of this behaviour with natural experiments could be more comprehensive. In this paper, we use data from 120 episodes of the Portuguese version of the TV game show The Price is Right, namely...